18 Restaurant Chains That Have Filed for Bankruptcy

The coronavirus pandemic has devastated the restaurant industry. By mid-April of 2020, an estimated 30,000 American restaurants had closed for good and more than 110,000 were expected to shutter by the end of October, according to estimates from the National Restaurant Association. And chain restaurants are not immune from these closures. Some classic chain restaurants had already been facing tough times amid stiff competition from newer fast-casual restaurants, and were forced to close underperforming locations to cut their losses. The coronavirus pandemic has only made things worse.

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GOBankingRates rounded up all the major U.S. restaurants that have declared bankruptcy this year. Find out if your favorite spot is on the verge of extinction.

Last updated: Jan. 11, 2021

Krystal Holdings

• Bankruptcy date: January 19
• Assets: $401 million
• Restaurant(s): Krystal

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Sun Capital Partners

• Bankruptcy date: January 27
• Assets: N/A
• Restaurant(s): Bar Louie

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American Blue Ribbon Holdings

• Bankruptcy date: January 27
• Assets: $14 million
• Restaurant(s): Village Inn, Baker’s Square

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Cosi

• Bankruptcy date: February 24
• Assets: $40 million
• Restaurant(s): Cosi

FoodFirst Restaurants

• Bankruptcy date: April 10
• Assets: $307 million
• Restaurant(s): Brio Tuscan Grill, Bravo Italian Kitchen

TooJay's Management

• Bankruptcy date: April 29
• Assets: $50 million
• Restaurant(s): TooJay’s Deli – Bakery – Restaurant

Sustainable Restaurant Group

• Bankruptcy date: May 12
• Assets: $10 million
• Restaurant(s): Bamboo Sushi, Quickfish

Garden Fresh Restaurants

• Bankruptcy date: May 14
• Assets: $50 million
  
• Restaurant(s): Souplantation, Sweet Tomatoes

PQ New York 9

• Bankruptcy date: May 27
• Assets: $3 million
  
• Restaurant(s): Le Pain Quotidien

BarFly Ventures

• Bankruptcy date: June 3
• Assets: $1 million
• Restaurant(s): HopCat, Stella’s Lounge, Grand Rapids Brewing Co.

CEC Entertainment

• Bankruptcy date: June 25
• Assets: $1.7 billion
• Restaurant(s): Chuck E. Cheese

Luxury Dining Group

• Bankruptcy date: July 3
• Assets: $10 million
• Restaurant(s): Fig & Olive

Golden Gate Capital

• Bankruptcy date: July 29
• Assets: $13.5 million
• Restaurant(s): California Pizza Kitchen

K.G. IM LLC

• Bankruptcy date: July 30
• Assets: $50 million
• Restaurant(s): Il Mulino
  

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Garbanzo Mediterranean Grill

• Bankruptcy date: Aug. 12
• Assets: 1 million
• Restaurant(s): Garbanzo

Cosmoledo

• Bankruptcy date: September 10
• Assets: $10 million
• Restaurant(s): Maison Kayser

Sizzler USA

• Bankruptcy date: Sept. 21
• Assets: $1 million
• Restaurant(s): Sizzler

NRD Capital Management

• Bankruptcy date: October 7
  
• Assets: $146 million
• Restaurant(s): Ruby Tuesday
  

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Jordan Rosenfeld contributed to the reporting for this article.

Please note photos are for illustrative purposes only. Some photos are representational and might not depict the restaurant chains listed in this article.

About the Author

John Csiszar

After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.

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